Owens Corning Declares First Payout in 14 Years

Last Wednesday, the global producer of residential and commercial building materials, plus glass-fiber reinforcements and other materials for composite systems, declared its first dividend in 14 years. The quarterly payout of 16 cents per common share will cost the Toledo, Ohio-based company $75 million annually.

Traded on the New York Stock Exchange, the shares (ticker: OC) surged 15% on the...